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FinTech For Dummies

Steven O'Hanlon, Susanne Chishti

ISBN: 9788126515929

INR 799

Description

This comprehensive, hands-on guide is the go-to source for everything you need to confidently navigate the ever-changing scene of this booming industry. FINTECH For Dummies will shed light on this rapidly changing landscape making it an invaluable source of information for anybody working in or interested in this space. This book provides insights, knowledge and guidance from industry experts Susanne Chishti and Steve O'Hanlon

Introduction

About This Book  

Foolish Assumptions  

Icons Used in This Book  

Beyond the Book  

Where to Go from Here  

 

Part 1: Getting to Know Fintech

Chapter 1: Navigating the FinTech Landscape

  • What Is FinTech, Anyway?  
  • Analyzing FinTech's Dimensions
  • Understanding What Has Changed in FinTech
  • Highlighting the Size of Global FinTech
  • Discovering a Few Important FinTech Terms

 

Chapter 2: Understanding What's Disrupting the Financial Industry (and Why)

  • Providing Trust and Value
  • Trust
  • Value
  • Weighing Wall Street against Silicon Valley: Where Disruptors Live
  • Examining the Role of BigTech
  • BigTech and payment platforms
  • BigTech partnership opportunities
  • How BigTech can help utilize data
  • Barriers to greater BigTech participation
  • Understanding Where the Disruptions are Happening
  • Banks
  • Asset managers
  • Insurance
  • Regulation and legal work
  • Payments
  • Looking for the Opportunities
  • Partnership opportunities
  • Exploiting digitalization with AI
  • Enhancing data portability

 

Chapter 3: The Role of Regulation in FinTech

  • Supervising FinTech
  • Understanding that location matters
  • Recognizing that more regulations are coming
  • Leveling the playing field
  • Examining Vendor Risk Issues
  • Introducing the Regulators
  • The United States of America
  • The United Kingdom and Europe
  • Investigating Regulatory Changes
  • Payment Services Directives
  • The General Data Protection Regulation
  • Highlighting RegTech Opportunities

 

Part 2: Learning the Technology

Chapter 4: Defining the Tech Underpinning FinTech

  • Finding a Fix in FinTech
  • What's the problem?
  • Why FinTech now?
  • Creating API Strategies
  • Understanding the concept
  • Looking at API benefits
  • Developing an API strategy
  • Including REST and RAML
  • Trying tips for API success
  • Reviewing APIs and security vulnerabilities
  • Understanding Event-Driven Software
  • Testing and implementation
  • Language support
  • Building on Agile: Microservices and More
  • Waterfall development
  • Agile design
  • Microservices
  • Bundling Efficiencies: Batch Processing
  • Improving Data Management
  • Distinguishing the types of data
  • Validating, enhancing, and cleansing data
  • Making enterprise data management more efficient
  • Working with CPUs and GPUs 5
  • Comparing CPUs and GPUs
  • Planning for success
  • Estimating the potential improvement
  • Choosing a Programming Language
  • Python
  • Julia
  • R

 

Chapter 5: Confronting the Compute Conundrum

  • Determining Compute Requirements
  • In-memory computing
  • Virtualization
  • Making Sense of DApps
  • Comparing DApps to traditional applications
  • Understanding blockchain
  • Knowing where to find DApps
  • Connecting DApps, Artificial Intelligence, and FinTech
  • Looking at permissioned blockchain
  • Understanding Quantum Computing
  • How quantum computing works
  • The drawbacks of quantum computing
  • How quantum computing fits into FinTech

 

Chapter 6: Calling Up the Cloud

  • Getting to Know the Cloud
  • Looking at the cloud's key traits
  • Checking out the benefits of the cloud environment
  • Introducing types of cloud services
  • Choosing between private and public clouds
  • Cloud bursting
  • Developing an Optimal Cloud Strategy
  • Reviewing data security and encryption
  • Surveying data states
  • Considering cloud scalability
  • Understanding cloud-based virtualization
  • Using self-service provisioning
  • Monitoring performance
  • Evaluating potential security risk on the cloud
  • Understanding Privacy Compliance and Government
  • Requirements
  • Data protection laws
  • Data localization laws
  • Data sovereignty laws
  • Access to information laws
  • Seeing How FinTech Helps with Cloud Strategies

 

Chapter 7: Understanding Blockchain beyond Bitcoin

  • Understanding the Basics of Blockchain
  • Mining and consensus
  • Smart contracts and DApps
  • Blockchain network types
  • Discovering How Blockchain Technology Works
  • Decentralization
  • Security
  • Transparency
  • Looking at Blockchain's Role in FinTech

 

Chapter 8: Acclimating to the App Mentality

  • Introducing Types of FinTech Apps
  • Surveying the FinTech App Landscape
  • Digital banking
  • Wealth management  
  • Payments and peer-to-peer money transfer
  • Lending
  • Looking at the Nonretail Side of FinTech Apps
  • RegTech
  • Capital markets trading
  • Building a GUI Framework
  • Introducing the GUI
  • Getting the GUI right
  • Establishing the Requirements Needed in the Development of an App

 

Chapter 9: Breaking Down BI Tools

  • Taking a Strategic Approach to BI
  • Exploring BI Tools
  • Online analytical processing
  • Querying and reporting
  • Data mining
  • Data visualization
  • Business activity monitoring
  • Data warehousing
  • Digital dashboards
  • Choosing the Right BI Tools for FinTech
  • General BI applications
  • Niche BI applications

 

Chapter 10: Reviewing the Role of Open Source

  • Defining Open Source
  • The open source community
  • Free versus open source
  • Looking at Open Source Development Processes
  • Beginning a project
  • Discussing and documenting
  • Perusing the Pros of Open Source
  • Reduced cost
  • Flexibility
  • Freedom
  • Development speed
  • Considering the Cons of Open Source
  • An untraditional support model  
  • Time and resources for maintenance
  • The possibility of uneven documentation
  • Security risks
  • Sustainability issues
  • Licensing issues
  • Other concerns to consider
  • Evaluating Open Source Solutions
  • Developing your own solution
  • Finding help for the right open source solution
  • Introducing open innovation

 

Chapter 11: Grasping Data Management Fundamentals

  • Looking at FinTech's Role in Helping Companies Manage Their Data
  • Understanding ETL: Extract, Transform, and Load
  • Going over the steps
  • Reviewing ETL software requirements
  • Managing Market Data
  • Cleansing and normalizing market data
  • Segmenting and storing market data
  • Dealing with Databases
  • Data warehouses
  • Data lakes
  • Maintaining Data Lineage
  • Breaking Down Big Data
  • Differentiating between Structured and Unstructured Data
  • Comparing SQL and NoSQL
  • SQL databases
  • NoSQL Databases

 

Chapter 12: Adapting for Future Technologies

  • Harnessing the Power of Artificial Intelligence
  • Defining AI
  • Breaking down artificial neural networks
  • Exploring how AI fits into FinTech
  • Leveraging Machine Learning
  • Supervised learning
  • Reinforcement learning
  • Unsupervised learning
  • Making the Most of Chat Bots
  • Checking Out Alternative Data Sources
  • Companies and devices involved in alternative data
  • Alternative data in the financial industry
  • Sourcing, compliance, and regulation  

 

Part 3: Working with Fintech Companies

Chapter 13: Deciding Whether to Build, Buy, or Partner

  • Transforming Your Company Digitally
  • Exploring Reasons to Build or Buy
  • Looking at reasons to build
  • Checking out reasons to buy  
  • Finding the balance between new and legacy software
  • Finding a FinTech Partner
  • Weighing the pros and cons of partnership
  • Researching and scouting potential FinTech partners
  • Working with partners on evolving solutions
  • Describing the Licensing Models
  • Subscription
  • Perpetual  
  • Term  
  • Source code transactions
  • An open source approach  

 

Chapter 14: Managing Integration with Legacy Systems

  • Understanding and Tackling the Challenges of Legacy Infrastructures
  • Comparing old and modern systems
  • Determining whether a legacy system is too old
  • Estimating the cost of doing nothing
  • Discovering how FinTech can help
  • Planning for success  
  • Walking through the Technical Steps of Updating a Legacy System
  • Noting areas of concern
  • Making your plan
  • Assembling the team
  • Implementing the plan
  • Avoiding the pitfalls  
  • Simplifying Integration with Microservices Architecture
  • The benefits of microservices
  • Migration strategy options  

 

Chapter 15: Preparing Your Team for a Successful Project

  • Assembling a Transformation Team  
  • Recruiting the right team members  
  • Counting on communication  
  • Shifting the leadership paradigm
  • Assigning roles  
  • Setting Realistic Expectations and Timelines
  • Supporting Change Agents
  • Retaining Good Employees during Change
  • Why employees leave
  • Retention strategies that work
  • Career paths and organizational change
  • Understanding Data-Driven Decision-Making
  • Breaking the Silos

 

Chapter 16: Investing in FinTech Companies

  • Understanding the Players
  • Challenging financial institutions
  • Offering collaborative solutions to financial institutions
  • Navigating the Investor Landscape
  • Crowdfunding
  • Angel investors  
  • Venture capital  
  • Corporate venture capital
  • Private equity
  • Conducting Due Diligence
  • Performing primary research
  • Doing secondary research  
  • Analyzing data
  • Evaluating a Company's Growth Strategies
  • Studying the competition
  • Listening to customers  
  • Asking about technology  
  • Inspiring innovation
  • Considering a Company's Culture

 

Chapter 17: Figuring Out the FinTech Endgame

  • Bringing the Board Up to Speed on FinTech  
  • Noting the challenges that financial boards face
  • Embracing digital transformation
  • Developing digital skills
  • Figuring out how to participate
  • Looking into the Future of FinTech
  • Authentication methods
  • Voice technology
  • Artificial intelligence
  • Identifying Industry-Driven Networks, Accelerators, and Incubators
  • The FinTech Innovation Lab
  • Startupbootcamp FinTech
  • Techstars
  • FINTECH Circle
  • Level39
  • Mulling Over Mergers and Acquisitions
  • Consolidation
  • Corporate venturing strategies

 

Part 4: The Part of Tens

Chapter 18: Ten Symptoms of Ailing Legacy Technology

  • A Band-Aid Overload
  • A Lack of Backward Compatibility
  • Incompatibility with Other Systems
  • Disparate Data
  • Spreadsheet Risk
  • Latency
  • Increasing Demand for Support and Maintenance
  • Short-Term Gains and Long-Term Pains
  • A Shrinking Talent Pool
  • Lost Market Opportunities

 

Chapter 19: Ten Questions for Determining Whether to Build or Buy

  • Is This Functionality Core to Our Business?
  • Is the Application Unique?
  • Which Approach is More Cost-Effective?
  • Should This Application Be Built?
  • What are the Risks of Building versus Buying?  
  • When Does Open Source Make Sense?
  • When Does Building Make Sense?
  • How Can We Accelerate a Build?
  • When Does Buying Make Sense?
  • How Do We Select a Vendor and a Product?

 

Chapter 20: Ten Considerations When Using Open Source Technology

  • Your Business Model
  • Open Source Community Health
  • Tech Support
  • Security
  • Code Audits
  • Reliability
  • Hidden Costs
  • Updates and Upgrades
  • Potential Hardware Impact
  • Legal Considerations

 

Appendix: Building A Fintech Company From the Ground Up

Index